Manchester United co-owner Joel Glazer will continue to be involved in the sporting matters at the club after Sir Jim Ratcliffe secures his minority 25 per cent stake.
Earlier last week, it was confirmed that Sheikh Jassim had pulled out of the takeover race after the Glazers refused to accept a permanent sale for the proposed fee.
Ratcliffe is now the front-runner to invest into the club. It was recently claimed that he would have full control of the sporting arm of the business as part of the deal.
However, The Times report that won’t be the case. Joel, who is currently the co-chairman alongside Avram, will be involved in a three-man football committee with Ratcliffe and Sir Dave Brailsford.
This may not necessarily be something to worry about for United fans as the British billionaire and the former British Cycling boss will ultimately have the final power in the decision-making.
As things stand, it could take another two or three weeks before Ratcliffe’s proposal is sent for Premier League approval.
With the need to meet New York Stock Exchange (NYSE) requirements, it could take a further eight weeks for the process to complete.
Ratcliffe deal could be delayed beyond January
Ratcliffe’s proposal for a minority stake has been received with a mixed reception from the United faithful, who were hoping for a complete takeover of the club.
Acquiring a minority stake means the Glazers will continue to remain the majority shareholders, but Ratcliffe aims to secure more shares over coming years.
As part of the deal, he has asked for control in the football decisions. The question is how much influence Joel would have on the transfer proceedings at the club.
The Glazers have not spent a single penny from their own pockets since their takeover in 2005, and some fans would prefer them staying away from the decision-making.
For now, we have to wait and see. Ratcliffe’s deal could be delayed beyond January. With United being on the NYSE, the process could take much longer than usual.
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